Elder Care

Did you now that nearly half of all Americans who reach age 65 will need long-term care of some kind in their lifetime?¹ Many times the responsibility for managing the health care and financial and legal affairs of a loved one falls on children or other relatives of the elderly. When families are separated by hundreds or thousands of miles, effective care management can be difficult. By taking steps now, you can be better prepared to manage your loved one's care if the need arises.

Getting Started
The first step is to find out what community services are available. Most areas have government or non-profit agencies to provide assistance and referrals. Identify the appropriate providers and make use of services that will assist with needs, such as managing finances, drafting or amending a will or preparing advance directives (durable power of attorney, health care proxy, and living will). A qualified attorney should be consulted to prepare advance directives, wills, trusts, and other estate-planning documents. (A good place to start is to obtain the names of qualified attorneys from your local Bar Association.)

Be aware that while an agency can provide a referral, you or another family member will very likely have to be personally involved in calling the attorney, accountant, doctors, etc. If someone is placed in a convalescent center or long-term care facility, the management of this facility can in effect be given partial guardianship to manage the patient’s monthly budget for certain items. For those not in nursing homes, there are professional "elder care managers" available for hire. Again, be prepared to pay for this assistance. Many of these individuals can coordinate day care, home health care, etc.

Find out if the elder family member has the legal documents listed below. If not, talk to your chosen attorney about obtaining these documents:

• Will A will provides instructions for distributing assets and providing for the needs of heirs.
• Durable Power of Attorney This can authorize a third party to manage the financial and legal affairs of a person who can no longer do so for him or herself.
• Living Will This provides instructions for health care providers that stipulates the extent to which measures should be taken to maintain the patient's life should the person become unable to express his or her wishes.
• Health Care Proxy allows an individual to specify, in advance, the person or persons he or she wants to make critical medical decisions regarding his or her care and, unlike a living will, is not limited to decisions regarding artificial life-support.

What You Need
When you know where to get the help you need, gather all of your necessary information together. You may want to organize your information as shown below:

Review Health Status
Get a general idea of the current state of your elderly family member's health. If possible, speak to the primary care physician. Take the time to learn about illnesses afflicting the elder family member and how these diseases progress.

Obtain Medical Records
List all doctors, hospitals, and other medical providers. Keep a list of all medications taken and the health insurance policy information.

Support
Obtain a list of agencies in the community near your relative that may be able to provide the support you will need.

Friends and Neighbors
Identify the neighbors, friends, or other relatives who are willing to help.

Financial Data
You will need to get the Social Security number, financial statements, insurance policies, and all other legal documents belonging to your relative.

Family Support
Get your family organized. Know who will be visiting, when, and what role they are willing to play as a caregiver.

Get Going
The sooner your plans are made, the easier it will be to manage your relative's care across the miles. Once you have come to an agreement with potential caregivers, you will begin to feel more in control of the circumstances and thus eliminate some of the stress associated with long-distance care management.

¹Thomas W. Fitch, "Linked Benefit Products," California Broker, March 1997 (reprint L-3827 AA[4/97] in Moneyguard® pocketed brochure L-3858, First Penn-Pacific Life Insurance Co.).

The data in this article is intended for informational purposes only. For specific advice on your particular circumstances, contact appropriate insurance, legal, tax, and financial advisors.